All too often business owners don’t think about their taxes until the end of the year, and unfortunately the mad scramble begins. Avoid the mad rush and start planning throughout the year. With the following strategies you can pay the right amount.
Here are a few tips to help you save big this year.
Strategy 1 – Charitable Giving
Charitable Giving can help you save big come tax time. You can maximize matching gifts from other donors. By planning now, you can also get your employees on board. Bottom line-plan to save big.
Strategy 2 – Consider Quarterly Filing
By filing quarterly, you will have a better view on where your business is at concerning taxes. This will help with your spending, spend more freely or increase your charitable giving.
Strategy 3 – Bulk up your Emergency Account
No one can predict the future and with the new tax reform there are some major changes to tax laws in the coming years. It’s important to increase your raining day fund, just in case your business gets hit hard. Bulk up this fund now so that you can pay any taxes you owe later.
Planning is the key. It’s a good idea to contact Account Management & Tax Service when you want to attack your taxes head on.